Alex Ossola

This lower income customer has been under pressure for a long time. Ever since inflation started spiking up during the pandemic, these are the people that have been hit hardest, that have had to live paycheck to paycheck and have had to really watch their budgets. And this is a continuation of that trend for them. But we are starting to see it hit higher income buckets now.

This lower income customer has been under pressure for a long time. Ever since inflation started spiking up during the pandemic, these are the people that have been hit hardest, that have had to live paycheck to paycheck and have had to really watch their budgets. And this is a continuation of that trend for them. But we are starting to see it hit higher income buckets now.

That was WSJ Reporter Suzanne Kappner. Thank you, Suzanne. Thanks for having me.

That was WSJ Reporter Suzanne Kappner. Thank you, Suzanne. Thanks for having me.

There's right now, by our estimate, $328 billion of clean energy projects under development. And so the issue is when you have tax policy to encourage U.S. companies to make investments, if you rip it up too fast, you just strand a lot of investment. You create a lot of chaos.

There's right now, by our estimate, $328 billion of clean energy projects under development. And so the issue is when you have tax policy to encourage U.S. companies to make investments, if you rip it up too fast, you just strand a lot of investment. You create a lot of chaos.

This goes back to 2018. It was a very unusual regulation imposed on Wells Fargo for some very unusual behavior, which is that they were signing customers up to accounts and the customers didn't know that they were. And it caused a huge scandal. And the Fed imposed this cap on them. So basically, until you've put your house in order, we're not going to let you grow.

This goes back to 2018. It was a very unusual regulation imposed on Wells Fargo for some very unusual behavior, which is that they were signing customers up to accounts and the customers didn't know that they were. And it caused a huge scandal. And the Fed imposed this cap on them. So basically, until you've put your house in order, we're not going to let you grow.

This has been a very punishing regulation for a bank that for years before had been one of the most popular banks for investors. Warren Buffett was famously an investor for a long time. So the investment community is excited about this bank having a foundation now to grow and catch up.

This has been a very punishing regulation for a bank that for years before had been one of the most popular banks for investors. Warren Buffett was famously an investor for a long time. So the investment community is excited about this bank having a foundation now to grow and catch up.

Just look at the stock price of Wells Fargo since 2018 compared to its peers like JP Morgan, and it's just so far behind. And so maybe there's some catch up to do if it can take advantage of its newfound liberation.

Just look at the stock price of Wells Fargo since 2018 compared to its peers like JP Morgan, and it's just so far behind. And so maybe there's some catch up to do if it can take advantage of its newfound liberation.

So about three years ago, the Biden administration passed its own version of a big, beautiful bill. And one of the many things it did was try to really kind of accelerate the deployment of clean energy. It tried to do two things. It tried to increase the deployment of clean power, and we now saw that

So about three years ago, the Biden administration passed its own version of a big, beautiful bill. And one of the many things it did was try to really kind of accelerate the deployment of clean energy. It tried to do two things. It tried to increase the deployment of clean power, and we now saw that

Last year, over 90% of all of the new electrons added to the grid were coming from these clean sources. And the other thing it tried to do was to really kind of supercharge American manufacturing so that we were making the components, the batteries, the solar panels, the wind turbines here in the U.S. And so the goal was just to kind of supercharge the clean energy system.

Last year, over 90% of all of the new electrons added to the grid were coming from these clean sources. And the other thing it tried to do was to really kind of supercharge American manufacturing so that we were making the components, the batteries, the solar panels, the wind turbines here in the U.S. And so the goal was just to kind of supercharge the clean energy system.

We've done this with almost every aspect of energy in our economy has some different amount of public support. And no, those credits, those incentives are up for some significant change, which shouldn't surprise us, right? The bill under Biden was passed with just democratic control that makes these pieces of legislation vulnerable. There's been broad bipartisan support for clean energy.

We've done this with almost every aspect of energy in our economy has some different amount of public support. And no, those credits, those incentives are up for some significant change, which shouldn't surprise us, right? The bill under Biden was passed with just democratic control that makes these pieces of legislation vulnerable. There's been broad bipartisan support for clean energy.

Most of the investment, most of the energy production is happening in conservative parts of the country. But because the bill was adopted in this partisan way using the reconciliation process, we knew that when we had a unified flipping government, there was going to be an effort to unwind those credits.

Most of the investment, most of the energy production is happening in conservative parts of the country. But because the bill was adopted in this partisan way using the reconciliation process, we knew that when we had a unified flipping government, there was going to be an effort to unwind those credits.